- Crude oil month chart shows price moving below crucial support and resistance zone between 32 and 40.
- Crucial Lows made between the Year 2000 and Now are 10, 16 and 24 as shown in chart 2.
- Structure of price continues to favour bears of crude oil as shown in Daily time frame.
- One hour chart too favours bears as price stays below Hourly cloud.
- S&P 500 MONTHLY BEARISH CROSS
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- Nifty Month chart shows price correction above a bullish Trend line. Price for now is in a bearish channel. If price stay within this channel it should test the rising trend line, Depending on the speed of the fall price may hit 7100 levels or lower. To avoid this bulls should do a channel breakout.
- Weekly chart continues to break below swing lows. Staying below 7500 levels will continue to favour bears.
- In the very short term bears need to stay below Hourly cloud to keep the short term trend intact.
- S&P 500 MONTHLY BEARISH CROSS
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